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AXL Arrow Exploration Corp.

0.10 (0.45%)
19 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Arrow Exploration Corp. LSE:AXL London Ordinary Share CA04274P1053 COM SHS NPV (CDI)
  Price Change % Change Share Price Shares Traded Last Trade
  0.10 0.45% 22.10 412,807 16:35:23
Bid Price Offer Price High Price Low Price Open Price
21.50 22.50 22.00 22.00 22.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs USD 25.14M USD 346k USD 0.0012 308.33 105.77M
Last Trade Time Trade Type Trade Size Trade Price Currency
17:23:11 O 7,551 22.10 GBX

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Date Time Title Posts
20/4/202411:22Arrow Exp - The Second Phase Colombian O&G Sector Specialist7,866
29/11/202307:53Arrow Exploration111
04/1/202212:39Arrow Exploration-

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Posted at 20/4/2024 09:20 by Arrow Exploration Daily Update
Arrow Exploration Corp. is listed in the Crude Petroleum & Natural Gs sector of the London Stock Exchange with ticker AXL. The last closing price for Arrow Exploration was 22p.
Arrow Exploration currently has 285,864,348 shares in issue. The market capitalisation of Arrow Exploration is £105,769,809.
Arrow Exploration has a price to earnings ratio (PE ratio) of 308.33.
This morning AXL shares opened at 22p
Posted at 28/3/2024 08:03 by ashkv
Superb increase in 1p/2p/3p levels - it is only going higher :)

Would have appreciated YTD production, Q4 2023 production and guidance for 2024!!!

In 2023 Q4 2022 Update was combined with FY 2022 Results in First Week May 23 (Please correct if I am not accurate).

Production is lower than I expected - but AXL has updated that there are issues with use of CN Pad impacting production and water disposal.

Horizontal wells could be a game changer. AXL had recently guided that hopes to attain 5,000 boe/d by mid-year 2024. Capella restarting in Q3 should help with the same.

Even at 24-25p AXL remains waay too cheap given what is ahead!!!

Share Price - AXL: 24.50p
AXL Current Share Price vs 52 Week low of 16.3p on 31 March 23: 63.33%
AXL Current Share Price vs 52 Week High of 27.75p on 21 March 24: -11.71%
Brent: $85.50
Market Cap (GBP): £70,036,765
GBPUSD: 1.26
Market Cap (USD): $88,246,324
Production Average Q1 2023: 1,635
Production Average Q2 2023: 2,169
Production Average Q3 2023: 2,518
Production Average Q1-Q3 2023: 2,110
Production Levels -> End March 2024 2,900
Production Average FY 2022: 1,345
Cash (28 Mar 24 RNS): $12,000,000
Inventory (Q3 2023 Results): $885,517
Debt: $0
Enterprise Value (Market Cap + Debt - Cash): $76,246,324
EV/Barrel Q2 2023 Production Average: $35,153
EV/Barrel Q3 2023 Production Average: $30,281
EV/Barrel Average Q1-Q3 Production: $36,136
EV/Barrel Production Levels -> End March 2024: $26,292
EV/Barrel (5000 Boe/d Expected By H1 2024): $15,249
Decommissioning liability (Q3 2023 Results): $3,759,347
2P Reserves (Year End 2023): 11,800,000
EV/2P: $6.46
Shares Outstanding: 285,864,348
Shares Outstanding (Diluted): 288,639,348
Posted at 23/3/2024 11:05 by mount teide
BTB - 'Those shareholders who are here for Marshall to repeat what he has done 7 or is it 8 times before, will not be concerned. What hazard can there be if nobody can form a concert party and steal the company on the cheap. Besides which, having MA and his team as friendly advisors post sale must be of value.'

Exactly Buffy.......the AXL comments by the Canacol CEO like:
"Arrow has a very aggressive development plan scheduled for this year. We expect to see very good growth in their share price." and
"They've done a great job. Their share price has increased significantly recently and about 350%, I believe since they listed on the AM Exchange a couple of years ago."

are excellent PR for AXL, and are likely to have Canacol's more inquisitive shareholders and some of the wider small/mid cap energy investment sector take a look at the company.

Arrow's current modest valuation, aggressive low cost, low risk production development plan to double production again in 2024 should make interesting reading, particularly when considering the production and capital growth delivered since AXL's Q4/2021 London IPO relative to their peers:

Capital Growth:
+327% - Arrow Exp
+38% - S&P 500 Energy Index
-56% - AIM Energy Index
Posted at 23/3/2024 08:12 by here and there
I found this Arrow references in the Canacol transcript

'In terms of additional liquidity, we do have, if you recall, an investment in Arrow Exploration that of course was the company that we sold our oil assets to in the fall of 2018, I believe. They've done a great job. Their share price has increased significantly recently and about 350%, I believe since they listed on the AM Exchange a couple of years ago. We hold 21% of that company, roughly 60 million shares. That equates to about $20 million, it's non-core and that's a position that I could sell into some strong handed shareholders of theirs.’

And this,

And are you expecting any substantial changes in working capital either positive or negative?

Jason Bednar

Not particularly. I guess a disposition of Arrow shares would be roughly a $20 million for working capital.

And this,

Albert Chang

And just lastly, can you share any color on where your cash balances are now and where you see it at the end of the first half? And it also be helpful to know if you had any indication of interest or at least soft conversations with respect to that potential Arrow stake sale?

Jason Bednar

Yes, I mean the current cash balance I already answered was $30 million and there's abundant interest.

Charle Gamba

Let me just clarify that last point with respect to Arrow. We've held a position, a very good position, very happy with our position.

Albert Chang

And the full time at 48 to 63?

Charle Gamba

Sorry? Sorry about that. Anyways, we're holding -- we've held that position for a long time. We're very happy with the position. Arrow has a very aggressive development plan scheduled for this year. We expect to see very good growth in their share price. So, we continue as we always do to evaluate our position with respect to Arrow Holding.

Those were all the references to Arrow

Effectively, their Arrow stock is a balance sheet option. They don't need to sell it as they still have cover but it could be an option one day to sell it to an exisitng II. The CEO's concluding remark is very very encouraging

"Arrow has a very aggressive development plan scheduled for this year. We expect to see very good growth in their share price."
Posted at 22/3/2024 21:21 by rockyride
As I say, you would think it would be relatively easy for financial IR to broker II/s swaps for the 60m as 1 option with another option being Arrow buying back. Maybe part and part of the 2 above.Another option to throw in the mix may be something outside the box. Assume new II's did not take any, there could be something creatively done between the company and another holders excluding Canacol of course. All numbers rounded up and in sterling:-CURRENT SITUATIONExisting 300m shares fully dilutedSP 25pCanacol own 60mOther holders 240mPROPOSED OPTIONAXL buyback 30m shares (10%) for £7.5mIn theory this increases the share price to 27.5pOther holders offers share option of 1 share for every 8 held and 25pThis raises £7.5m to Canacol + £7.5m from AXL buyback gives Canacol £15m in total for their 60m shares meaning they get 25p per share.Then 27m shares remain and in theory share price is 27.5pIf any of the 1 for 8 shares are not bought, the company underwrite the offer and they take themMaybe a stupid idea but I thought Id throw it out there to see what peeps think
Posted at 22/3/2024 17:36 by mount teide
r1 - Canacol - 'possible disposition of their AXL shares to offset their debt'

As per yesterdays presentation:
Canacol US$
$131m - Market Cap
$719m - Net Debt

$19m - Value of Canacol's Arrow Shareholding(2.5% of their net debt!)

Would barely move the needle on reducing their net debt.

Posted about Canacol's financial problems last summer - since then Canacol's share price has collapsed a further 55%, while Arrow's share price is up 53%.

Since Arrow listed on AIM in October 2021 - Shareprice comparison:
-74.9% - Canacol
+327.2% - Arrow Exploration
Posted at 11/3/2024 11:55 by mount teide
Since AXL started going sideways at circa 17p some 18 months ago, VLE(+147%), AET(+54%) and AXL(+47%) have been my best performing O&G a sector, that despite very strong cash flow generation has been surprisingly challenging for investors.

Since AXL's London Oct 2021 IPO (2.5 years ago)the comparative performances of the three companies has been:
+671% VLE
+292% AXL
+175% AET

My average investment holding period for these three investments is 1.73 years with an average return of +108% (AXL holding has generated the most £capital gain)

The other O&G investments have largely gone sideways with the exception of JSE which is -62%, down to 34% below the average buy price, ADV a circa 70% crystallised loss, and SAVE which is +227% but currently suspended pending Government approval for a reverse takeover.

Posted at 28/2/2024 23:11 by king suarez
Yes, so the AXL netback of $60.62 @ $92.59 Brent compares to $48.97 for PAREX at $85.92 Brent.

If you compare at the same Brent price of $92.59 it would be $60.62 for AXL and $55.64 for PAREX - not too dissimilar really - and PAREX is part gas, whereas the AXL figure quotes only the oil - the netbacks on AXL gas are poor at current gas price.

They look to be operationally v similar metrics, as we might expect operating in the same area?! However, AXL currently have much cheap value add production growth as MT's posts have highlighted.
Posted at 09/2/2024 08:57 by rockyride
JB - looks that way and it's been one of my suspicions for a while. But as you say, if so, why don't they just conclude the swap with a large transaction?Arrow are adamant that the transactions are retail, not II's or BOD dealings but it just seems relentless. Even if a PI was just below the mandatory TR1 threshold and sat at 2.99% that would only be 8.54m and we've definitely seen more than that traded on the 50k and 100k chunks over the last 6 to 9 months.AIM is a strange beast at the best of times - TXP is a perfect example. It went up 6p on Wednesday (the day before a strong RNS - leak leak leak or insider trading and is an imprisonable offence) and only went up a similar amount on the day of RNS, while all the Wednesday buyers cashed in to the amazement of PI's who could not understand the share price movements on both days - low and behold look whats happened to the share price over there today. Ever likely some poor inexperienced PI's get SPIKED!Anyway, back to AXL, every time we see a 50k / 100k trade, we are getting closer to this little frustrating fiasco coming to a conclusion. however, there will probably be some sort of other twist after this one.Yours sincerely Detective Chief-Superintendent RR
Posted at 23/1/2024 11:22 by chessman2
There appear to have been some large sells this morning yet the share price is holding up.

I suspect many holders including MMs realise the true value of stock thus it's sticking at the current level. Once prospective buyers appreciate the assets AXL is sitting on and start buying, the share price will move up.

AXL should have good news to announce on a frequent basis this year so I expect 2024 will see the share price rise much closer to 50p.
Posted at 12/1/2024 12:14 by mrscruff
Agree with Jimie. But its all academic as buybacks wont happen here as its an admission by the BOD that they got the warrant price wrong and way too low. Also the BOD do not care about share price only growth and buyout. The buyout offer may only be 30% more but there are enough aligned shareholders to get much much much higher price. The reason share buybacks would work is that it provides those who want to sell a way out (like BP and Sell do). It also provides less shares so on the way up the share price is more violent due to less sellers than buyers because the share price needs to move up to create sellers.

If the opportunity arrises I would vote for buybacks because the warrants created too many shares. Dividends are an absolute no. Not many companies you can say this!

Anyway I am looking forward to a violent move up in share price due to the horizontals.
Arrow Exploration share price data is direct from the London Stock Exchange

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